With 664 homes sold in the past year and just 276 currently listed, Silver Springs Shores, frequently referred to by locals as “the Shores,” is a hot real estate market!
Convenient to both the Ocala and Ocklawaha area, the Shores is located southeast of Ocala – close to lakes and a wide range of school districts. The Shores offers a diverse neighborhood, featuring midsize homes. This developing community dates back to 1972 with affordable real estate on the rise over the past few years.
The monthly inventory for Silver Springs is slightly lower than the rest of Ocala and Marion County, averaging about 5 months of inventory. Over the past year, approximately 55 homes per month have sold, decreasing slightly over the past 3 months.
Silver Springs is an affordable area, averaging a sales price over the past 3-6 months just under $132k, with a decreasing average price per square foot of about $93. The average seller discount dropped to about 1.45% in the past six months and has rapidly increased over the past 3 months to just under 1.8%. Construction has also been on the rise in this area according to an article written in the OcalaStarBanner, with 49 of the 201 Ocala building permits issued in 2017 being for the Shores.
The average SE Ocala home has increased substantially since 2015. In just three years, the average sales price has increased from about $180k to approximately $230k! With both the Ocala and Silver Springs’ real estate on the rise, buyers should jump at the opportunity to own an affordably priced home in the Shores today!